Biz Updates: CII President said – RBI expects to cut interest rates next month, new achievement in the name of ASPEZ
New Delhi| The Reserve Bank of India (RBI) may cut interest rates next month to support slowing economic growth. Industry body CII (Confederation of Indian Industry) President Sanjeev Puri expressed this hope on Wednesday. Along with this, Puri stressed the need to promote employment generation through targeted interventions in labor-based sectors in the upcoming budget.
The Confederation of Indian Industry (CII) chief also expressed hope that the BJP-led NDA government will pursue much-needed labor reforms in the third term. He stressed that this will benefit the economy and create more jobs. Responding to a question about the potential impact on India after the Donald Trump-led administration came to power in the US this month, the CII president said that we should focus on areas where there are opportunities and where We can really use our strengths.
Puri said, “…Now, what will Trump do, what will America do? I think it would just be speculative to comment on this at the moment. ” Puri said that public expenditure is increasing and consumption should also increase. He said that CII expects a cut in interest rates from the Reserve Bank of India (RBI).
New achievement in the name of Adani’s company
Adani Ports and Special Economic Zone Limited (APSEZ) is ranked among the top 10 global transport infrastructure companies in the S&P Global Corporate Sustainability Assessment (CSA) of 2024 with a score of 68 (out of 100). Compared to last year, this time the company’s performance has improved by three points. It was told from Adani Group that APSEZ has now got the 97th percentile in this sector, which is better than the 96th percentile it got in 2023.
Case settled with SEBI for 91 lakhs
Two people have settled the matter with SEBI by paying Rs 91 lakh in front running business in shares. Meghna Gosar and Devan Sangoi will have to return the earnings from this business with 12 percent interest. The case is dated between 2021 and 2022. Public sector company MOIL LTD. But the Collector of Balaghat, Madhya Pradesh has imposed a fine of Rs 16.77 crore. The fine has been imposed for production in excess of environmental clearance at its Tirodi mine during 1993-94 to 1995-96 and 2006-07 to 2008-09, the company told the stock market on Wednesday. Moyle Ltd. Said, it will file an appeal against this order before the appellate authority. The fine shall have no effect on its functioning. MOIL is a Miniratna manganese ore mining company, headquartered in Nagpur.
